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Research report

Preliminary Analysis of The Family Fairness and Opportunity Tax Reform Act

Leonard E. Burman, Elaine Maag, Georgia Ivsin, Jeffrey Rohaly
March 4, 2014
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Abstract

Senator Mike Lee's Family Fairness and Opportunity Tax Reform Act (S.1616) would significantly expand tax benefits for children, repeal the alternative minimum tax, and repeal the Affordable Care Act surtaxes on earnings and net investment income. To partially offset the cost of these provisions, the plan would consolidate filing statuses and tax brackets and repeal itemized deductions other than those for charitable contributions and home mortgage interest. TPC estimates that the plan would reduce tax revenues by $2.4 trillion over the ten-year budget period, 2014-2023, and remove roughly 12 million tax units from the federal income tax rolls in 2014.

Research Area

Individual Taxes Alternative minimum tax (AMT) Child tax credit (CTC)/Child and dependent care tax credit (CDCTC) Health care
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Meet the Experts

  • Leonard E. Burman
    Institute Fellow
  • Elaine Maag
    Senior Fellow, Research
  • Georgia Ivsin
  • Jeffrey Rohaly
    Principal Research Associate
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
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